Metrology Market Information, by Type (Industrial, Scientific, Legal), by End-user (Manufacturing, Automotive, Aerospace, Consumer products, Heavy industry), by Product (CMM, 3D scanner, Laser tracker)
Pune, India -- (SBWIRE) -- 07/17/2017 -- Metrology Market – Synopsis & Scenario
The major growth driver of Metrology Market includes growing demand for measurement components from sectors such as automotive and energy and power sectors, and growing outsourcing trends in healthcare sector among others.
Hence the market for Metrology is expected to grow at a considerable rate of 6.82% CAGR during the forecasting period (2016-2027).
However, lack of skilled precision machine operators is one of the major factors which are hindering the growth of Metrology Market.
Key Market Findings:
Global Metrology market has reached USD 607.9 million in 2016 and is projected to exhibit USD 1255.5 million by the end of 2027 with a growing CAGR of 6.82%.
By type segment, the industrial metrology among all is growing with a highest revenue value of USD 350.44 million in 2016 and it is estimated to reach USD 878.51 million by the end of 2027, with growing CAGR of 8.71% is the fastest growing metrology type.
By product segment, the coordinated measuring machine (CMM) is estimated to show highest revenue of USD 848.93 million in 2027 from USD 363.33 million in 2016, with growing CAGR of 8.02% during forecast period 2016 to 2027.
By end-user segment, Manufacturing is showing highest revenue of USD 139.08 million in 2016 and is projected to exhibit USD 395.46 million by 2027, growing with highest CAGR of 9.97% during forecast period 2016-2027.
Metrology Market Players
Some of the major players in Global Metrology Market include Hexagon AB (Sweden), Carl Zeiss (Germany), Mitutoyo Corp. (U.S), Nikon metrology (Belgium), Renishaw (U.K.), metrology software product Ltd.(U.K.).
Other prominent players include - Pantec metrology (Germany), Perceptron Inc.(U.S.), 3D Digital Corporation (U.S.) and Faro Technologies (U.S.). among others.
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- Nikon metrology has announced in April 2016 about its new product development. It has developed MV331 and MV351 for faster measurement, automated and non-contact metrology. It also performs repetitive procedures and complex inspection task easily to enhance the measurement.
- Faro Technologies has announced in July 2016 about its expansion of metrology and factory automation sectors by acquisition of Build IT software & solution, one of the leader in 3D metrology software platform.
Global Metrology Market – Segments
For an easy understanding, the Global Metrology Market can be segmented as follows:
Segmentation by Type: Comprises - Industrial metrology, scientific metrology and legal metrology among others.
Segmentation by Product: Comprises - CMM (coordinate measuring machine), optical digitizers, 3D scanners and Laser tracker among others.
Segmentation by Application: Comprises - Aerospace, automotive, consumer electronics, industrial, and energy & power among others.
Metrology Market Overview:
Metrology is a Science segment that includes study of all practical and theoretical aspects of measurements.
Global Metrology Market is expected to witness a steady growth thanks to the latest trends practiced by the industry during the past years – e.g. One of the global players - Nikon Metrology developed MV331 and MV351 for faster measurement, automated and non-contact metrology. It also performs repetitive procedures and complex inspection task easily to enhance the measurement.
While, Faro Technologies had expansion of metrology and factory automation sectors by acquisition of Build IT software & solution, one of the leader in 3D metrology software platform.
Market Research Future, with their unique quality of simplifying the Market Reports, publishes yet another deep diving study Report - "Global Metrology Market".
Global Metrology Market report takes you through the full Market Analysis, Opportunities, Price, Growth, Trends and Featuring the market Predictions right up to the years 2021 and helps you to find out:
- How the market revenue is progressing globally.
- What are the key driving or affecting factors for the market growth?
- How the market revenue is progressing in various segments & geographies.
- What are the current main market trends responsible for shaping up the Market Acquisitions
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Metrology Market Regional Analysis
North-America is expected to dominate the Global Metrology Market with the largest market share due to continuous technology advancement and increasing financial support from government in the region, and therefore accounting for extravagant growth in terms of economy.
Metrology Market in Asia-Pacific market is expected to grow at a substantial rate of CAGR of by 2027.
The Europe market for Metrology Market is expected to grow at a comprehensive rate of CAGR (2016-2027).
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